To forecast sales for the segment, the marketing manager conducted a simple regression analysis. He used sales

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Question:

To forecast sales for the segment, the marketing manager conducted a simple regression analysis. He used sales data (in units) from the previous 14 years. The results are presented below.

Root MSE 9.28 R-Square .961

Dependent Mean 162.79 Adj R-Sq .957

Coeff Var 5.70

PARAMETER ESTIMATES

Variable DF Parameter Standard t value Pr > t

Estimate Error

Intercept 1 83.38 5.24 15.91 <.0001

Time 1 10.59 0.62 17.20 <.0001

Based on the results, what is the forecast for year 17?

a.242 units

b.263 units

c.6,951 units

d.15,968 units

e.We should not use this regression model to forecast sales because it is not a good model.

The marketing mix

a.focuses mainly on selling activities and advertising decisions

b.consists of a target market

c.is difficult for an organization to control

d.directly affects the marketing environment

e.includes product, distribution, promotion, and pricing decisions

The political environment may influence an organization by

a.the creation of favorable or unfavorable laws

b.opening foreign markets

c.purchasing goods and services from the organization

d.all of the above